The exports of services Uruguay toward USA have tripled since 2020, according to data from the Ministry of Industry, Energy and Mining (MIEM), which highlighted that they went from about 500 million to more than 1.5 billion dollars annually.
The head of the MIEM, Elisa Facio, He focused on the importance of technological services as a driver of the link between both nations and highlighted the recent signing of a memorandum of understanding that opens opportunities in the areas of technologies critical and emerging.
When presenting during an event organized by the Catholic University of Uruguay (UCU), Facio highlighted “the long history of ties” between both countries, which dates back more than 150 years, as well as the fact of sharing “ways of life and democratic values,” after which he recalled that USA receives 85% of the placements IT sector national.
“The path of innovation is a development portal for the country. Therefore, this ecosystem is supported through the instruments offered by the program. Uruguay Innovation Hub and through permanent work to generate the necessary capabilities for our country to strengthen its place as an innovation hub,” said the leader.
An important industry
The IT sector constitutes the third industry in the country in terms of its volume of exports, with sales for a total of more than 1.8 billion dollars in services, according to data provided by the president of the Uruguayan Chamber of Information Technologies (CUTI), Carlos Acle.
During the event, where the Uruguayan ambassador to the United States also spoke, Andrés Durán; the United States ambassador to Uruguay, Heide Fulton; and which was moderated by the director of the UCU International Business Institute, Ignacio Bartesaghi, Acle assessed that this industry employs more than 20,000 people directly and more than 15,000 directly, while more than 20,000 people trained in these areas work in other sectors of activity.
Innovation
In this framework, Facio highlighted the creation of the Uruguay Innovation Hub and said that in recent years companies from abroad have settled in the country “thanks to its strengths, which include political security and economy, Besides the stability, very important characteristics for doing business.”
Regarding the work of UIH, he specified that it focuses on three axes: deep tech (artificial intelligence, cybersecurity, blockchain), the biotechnology and green technologies (including green hydrogen and its derivatives).
Support for these sectors is provided through three instruments: an accelerator of startups, that seeks to grow, internationalize and be able to take on the challenges of today’s world; a company builder to promote the creation of biotechnological companies that arise from research, so that they benefit the entire society; and matching funds, that is, conversion funds that match the venture capital that invests in local startups, in order to redouble the momentum. To deploy these instruments, competitive calls were made.
Source: Ambito
